September 29, 2024
Everstrong Capital is Glad to Be One of Ampersand’s Investors, Enabling the Transition to Electric Bodo Bodas
AMPERSAND
We are pleased to announce new equity investments from @ahl_vp and @EverstrongCptl, along with a reinvestment from @BeyondCapital, bringing the funding total raised in the last 12 months to USD $21.5 million.
These additional investments, ahead of our Series B, will enable Ampersand to continue its expansion in East Africa where 100 million people a day use motorcycle taxis or delivery services, called ‘boda bodas’. Our electric motorcycles are 45% cheaper to run than the petrol alternatives and produce at least 75% less emissions, making them a compelling alternative.
Our CEO, @JoshWhaleNZ, said: “This latest funding is a testament to the strong investor confidence in our business model as we continue to scale and innovate within the African e-mobility sector. With continued urbanisation, our mission to electrify transport, cut carbon emissions and drive clean economic prosperity is more crucial than ever.
“This additional investment will accelerate the rollout of our EV energy technology and infrastructure to the mass market, bringing us closer to our goal of deploying 5 million electric motorcycles by 2033…”
September 2024
Where to Invest in Africa
RMB – A Leading African Corporate and Investment Bank
The 2024 RMB Where to Invest in Africa report is based on the input of experienced professional and , in part, on work published in peer-reviewed journals.
It’s a practitioner-driven, data-backed model to help investors develop a balanced, robust and actionable view of the salient factors – drivers, challenges and opportunities – that characterise each of the 31 African markets included in the analysis.
Everstrong is glad to see this milestone for Milele Energy…
June 18, 2024
MEDIA RELEASE
DFC Deputy CEO in Sierra Leone Participates in Groundbreaking for Power Generation Project Expected to Nearly Double Energy Capacity
FREETOWN, SIERRA LEONE – The U.S. International Development Finance Corporation’s (DFC) Deputy CEO (DCEO) Nisha Biswal attended a groundbreaking ceremony today for the Nant Energy project, which is expected to nearly double Sierra Leone’s energy capacity and strengthen its ability to draw outside investment.
Formerly known as the Western Area Power Generation Project, the facility will be Sierra Leone’s first gas-to-power plant. It will address a critical need for the Sierra Leonean people’s access to reliable energy infrastructure. Construction is now beginning and is expected to reach completion in 36 months. Milele Energy, a Nairobi-based independent power-generation company, and energy project developer TCQ Power are co-sponsors of the project.
May 23, 2024
PRESS RELEASE
Usahihi, Africa’s Largest Toll Road Project, Unveiled during President Ruto’s U.S. State Visit with President Biden
His Excellency President William Ruto has declared the initiation of the Usahihi Nairobi to Mombasa Expressway, a new 4-6 lane dual carriage 440 km safe and efficient climate-sensitive road creating a wealth corridor between Kenya’s two largest cities. The Usahihi Expressway is brought to the forefront during President Ruto’s State Visit to the White House, alongside President Joe Biden.
The Usahihi expressway is the largest toll road project in Africa and envisions a transformative symbol of Kenya’s dedication to transparent and innovative infrastructure development, serving as a testament to the strengthened partnership between the United States and Kenya.
January 15, 2024
AfDB Prioritizes Transport Projects in Kenya until 2028
BUSINESS DAILY – AfDB to Limit Kenya’s Infrastructure Funding to Water, Transport
The African Development Bank (AfDB) – one of Kenya’s biggest financiers – will restrict funding infrastructure projects to transport and water, in what it says will prioritize areas with the greatest potential to lift economic productivity.
The shift that will apply from this year to 2028 will see energy projects take a hit given that they are currently the third biggest beneficiaries of the pan-African lender’s portfolio in Kenya infrastructure funding.
The lender says that increased funding to the two sectors will significantly boost Kenya’s job creation agenda given the intense human labour needed to deliver the projects.
The AfDB is the second biggest multilateral lender to Kenya and had 51 ongoing projects as of July last year, currently valued at KES629.7-billion (UA3-billion). UA refers to Unit of Account which the AfDB uses as its currency and which is now equivalent to KES209 920 per unit.
“The bank will adopt a different approach to selectivity, narrowing the broad infrastructure projects to only two sectors, namely transport, and water and sanitation, to enhance productivity and competitiveness, noting that water will involve dams and irrigation that support greater agricultural productivity,” the AfDB says in a review of its Kenya funding programme.
Source: Business Daily
African Development Bank headquarters in Abidjan, Ivory Coast. PHOTO | COURTESY
June 14, 2023
Everstrong Capital’s Focus on Development of a PPP for the Nairobi to Mombasa Expressway
May 12, 2023 | Construction Today Kenya – A US based infrastructure asset company has submitted a proposal to the Ministry of Roads and transport to develop the 450 kilometers…
November 22, 2022 | Nairobi Business Monthly – Construction of Nairobi-Mombasa Highway to take 5 years…
September 20, 2022 | Pearl Radio/Business News – Kenya to construct expressway from Nairobi to Mombasa
February 28, 2022
Everstrong Capital Investor Update / February 2022
Creating Value Investing in Africa’s Infrastructure.
Everstrong Capital focuses on infrastructure investments in sub-Saharan Africa. We are sponsoring the USD$50m Everstrong Kenya Infrastructure Fund (EKIF) whose focus is on energy, transportation, communications, and social infrastructure in East Africa.
February 3, 2022
SealTowers Announces Investment by Everstrong Kenya Infrastructure Fund
SealTowers Limited (SealTowers), a licensed Kenyan Cell Tower Company, and Everstrong Capital have today announced the signing of an agreement that will see Everstrong making a majority equity investment in SealTowers.
December 16, 2021
Everstrong Capital is Proud to Announce the First Close of the Everstrong Kenya Infrastructure Fund
Everstrong Capital is Proud to Announce the First Close of the Everstrong Kenya Infrastructure Fund
The fund’s initial investments are targeted to be in existing Kenyan telecommunications and healthcare companies and will demonstrate Everstrong’s focus on effectively investing in infrastructure companies that positively impact the East African communities we invest in.
(NOTE: This statement does not constitute or form part of an offer to issue or sell, or of a solicitation of an offer to subscribe or buy, any securities nor does it constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. No capital markets authority in any other jurisdiction has given, and is required to give, its consent to this statement.)
October 27, 2021
2021 East Africa Infrastructure Finance Event
The East Africa Infrastructure Finance Event, sponsored by Everstrong Capital, MiDA, USAID and Standard Bank, was held in October 2021.
The aim of the livestream virtual event was to raise awareness of the evolution of private finance of infrastructure in Kenya and East Africa, and highlighted the significant role that infrastructure development continues to make in boosting the East African economy as well as the opportunities available for infrastructure investments in the region.
The event featured speakers and distinguished guests and provided in depth discussions on topics such as diversification of investment portfolios into alternative investments/real assets, and economic and social infrastructure in Kenya and East Africa.
June 21, 2021
2021 Mercer Report
2021 Mercer, MiDA Advisors and Standard Bank report on Infrastructure financing in sub-Saharan Africa – Executive Summary
March 25, 2021
The United States-Kenya Free Trade Agreement Negotiations
Kenya has been a beneficiary of the African Growth and Opportunity Act (AGOA) which provides qualifying products made in eligible African ‘beneficiary’ countries preferential, duty-free access to the U.S. market. Through the AGOA, Kenya was one of the first eligible countries to export apparel under separate apparel provisions.
February 16, 2021
Report on East Africa and Select Countries’ Economic Performance
East Africa remains Africa’s fastest growing region. This paper highlights the various macro and micro economic pillars of particular countries in the East African region. Above all, we highlight the significant role that infrastructure development continues to make in boosting the East African economy as well as the opportunities available for infrastructure investments in the region.
December 4, 2020
BUSINESS DAILY – American PE Targets Energy Projects with Sh5.5bn Fund
American private equity fund Everstrong Capital wants to raise Sh5.5 billion ($50 million) from institutional investors targeting infrastructure projects in Kenya and Africa.
December 2, 2020
Everstrong Capital Kenya Office Virtual Launch Event
In depth discussions on the infrastructure investment climate in Kenya as well as energy and other infrastructure across Sub Saharan Africa. Featured speakers include US Ambassador to Kenya, Kyle McCarter and other distinguished guests.
July 2, 2020
An African Model for This Moment: Local Institutional Funding of Infrastructure
As African debt levels shake regional economies and strain government coffers in the midst of the COVID-19 pandemic, the urgency of marshalling local savings for vital infrastructure is clear.
June 25, 2020
The Future of US Aid – How DFC is Assessing Development Impact
The U.S. International Development Finance Corporation has developed a new impact measurement system, Impact Quotient, or IQ, to assess whether a project will receive funding, push companies to have greater development impact, and track whether projects are having the intended impact.
November 5, 2019
KENYA – US TRADE TIES | Bottomline Africa
American Chamber of Commerce Business Summit
“Africa has such a wealth of energy potential – renewables in particular, Kenya is one of worlds leaders in renewable energy…”
